Atrium Ljungberg acquires office property in new subsidiary market

Atrium Ljungberg has concluded an agreement on acquisition of the office property Eken 6 in Sundbyberg. The property totals 28,500 m2 and was acquired at an underlying property value of SEK 1,059 million. The acquisition is Atrium Ljungberg’s first in Sundbyberg, a municipality undergoing strong development where the number of residents will increase significantly over the coming years.

Eken 6 is a modern and flexible office property with industrial history qualities from its origin as Marabou’s chocolate factory. The property is located in central Sundbyberg alongside Bällstaån. It covers 28,500 m2letting area, of which 25,500 m2comprises offices. The rental value amounts to SEK 68 million.

The acquisition will take place through a share transaction at an underlying property value of SEK 1,059 million. The seller is Areim. The date of possession is 15 September 2016.

Eken 6 consists of three buildings. In addition to the main building, there is the old brick boiler building, as well as a detached garage with 685 parking spaces.

The property now has 20 tenants in total, of which the largest are ST1 Energy AB, Aditro Shared Services, the unemployment insurance fund Alfa-kassan, the Swedish Enforcement Authority, Friskis & Svettis and Opus Capita. The weighted remaining lease term is approximately four years. The letting rate is 93.5 per cent.

“This is a property with efficient premises, a high letting rate and a good mix of tenants. The location is attractive with good public transport links and service within a few minutes walking distance. It has potential for good rental growth and total yield, comments Micael Averborg, Business Area Director, Transaction and establishment, Atrium Ljungberg.

Central Sundbyberg will undergo extensive development over the coming years as a result of construction above the track area which now divides the centre of the city district into two parts. 40,000 m2of land will be created and developed to parks, residentials and offices. The project is expected to start in 2019 and will be completed in 2025. Major development projects are also taking place in other areas of Sundbyberg and the population forecasts indicate that the number of residents in Sundbyberg will increase from 46,000 residents at present to 70,000 residents by 2030.

“Solna/Sundbyberg is an interesting market where future development projects provide opportunities to us for continued growth. Just like our other locations, here we want to develop long-term sustainable urban environments together with the municipality, tenants and other collaboration partners,” comments Annica Ånäs, CEO of Atrium Ljungberg.

Nacka 08/07/2016
Atrium Ljungberg AB (publ)

Facts about the property Eken 6:
Year of construction: The main building was constructed between 1916–1918, conversion from factory to offices in the 1990s, extended to the current design in 1998.
Letting area: 28,500 m2 incl. garage with 685 parking spaces
Letting rate: 93.5 %
Number of tenants: 20

Press release 08-07-2016

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